Annual Manufacturing Prices Up By 3.2% In January

Monthly factory gate prices increased by 0.4% in January 2009. This compares to a decrease of 0.6% recorded for January 2008. As a result, the annual percentage change showed an increase of 3.2% in January 2009, compared with an increase of 2.2% in December 2008.

In the month, the price index for export sales increased by 0.7% while the index for home sales decreased by 0.3%. In the year there was an increase in the price index for export sales of 3.7% and an increase of 1.9% in respect of the price index for home sales.

In the month the most significant changes were increases in Pharmaceuticals and other chemical products (incl. man-made fibres) (up 1.9%), Basic chemicals (up 1.6%), and Office machinery and computers (up 1.2%), while there was a decrease in Wood and wood products (down 2.9%).

Contributing to the annual change were increases in Other food products including bread and confectionery (up 12.5%), Pharmaceuticals and other chemical products (incl. man-made fibres) (up 10.3%), and Basic chemicals (up 5.9%), while there were decreases in Dairy products (down 9.7%), and Office machinery and computers (down 1.7%).

The yearly price index for Mining and quarrying decreased by 8.7% while there was a monthly increase of 2.5%.